GOLD Will Go Down From Resistance! Short!

8 thg 9, 2023

Take a look at our analysis for GOLD.

Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a key horizontal level 1924.299.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1907.107 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!